Fair Value in Accounting

Preface; Chapter 1: Background; 1. Overview; 2. Use of Fair Value in IFRSs Compared to US GAAP; 3. Key Principles; 4. Differences between IFRS 13 and ASC Topic 820; Chapter 2: Definition and Scope of Fair Value; 1. Definition of Fair Value and the Fair Value Measurement Approach; 2. Items within the Scope of the Standards; Chapter 3: Identifying the Asset or Liability to Be Measured;1. Overview; 2. Characteristics of an Asset or Liability versus Characteristics of the Entity Holding the Asset; 3. The Unit of Account of the Asset or Liability; Chapter 4 Determining the Market in Which the Transaction Will Take Place; Chapter 5 Identifying Market Participants; Chapter 6 Defining the Transaction Price; 1. Exit Price; 2. Transaction Costs; 3. Transfer Tax and Other Transaction Costs Relating to Investment Property (IFRS Only); 4. Transport Costs; Chapter 7 Definition of an Orderly Transaction; 1. Guiding Principle; 2. Identifying Transactions That Are Not Orderly; 3. Measuring Fair Value When the Volume or Level of Trading Activity for an Asset or a Liability Has Significantly Decreased; Chapter 8 Fair Value at Initial Recognition; 1. Does the Transaction Price Represent the Fair Value?; 2. The Manner of Recognizing the Difference between Fair Value and Cost at Initial Recognition; Chapter 9 Application to Nonfinancial Assets; 1. Overview; 2. The Highest and Best Use Premise; 3. Valuation Premise for Nonfinancial Assets; Chapter 10: Measuring Fair Value of Liabilities and Equity Instruments; 1. Guiding Principle; 2. “Transfer” versus “Settlement”; 3. Liabilities and Equity Instruments Held by Other Parties as Assets; 4. The Measured Item Is Not Held by Other Parties as Assets; 5. Non- Performance Risk; 6. Restriction on the Transfer of a Liability or Equity Instrument; 7. Financial Liability with a Demand Feature (IFRS Only); Chapter 11: Application to Financial Instruments with Netting Positions; 1. Overview; 2. Relevant Definitions; 3. Scope of the Exception; 4. Qualifying Off setting in Respect of Market Risk Exposure; 5. Qualifying Off setting in Respect of the Credit Risk of the Reporting Entity and the Counterparty; 6. The Relationship between the Measurement of the Fair Value of a Net Position and Its Presentation in the Statement of Financial Position; 7. Allocation of the Portfolio-Level Adjustments to Individual Instruments; Chapter 12 Valuation Techniques; 1. Overview; 2. Considerations in Selecting a Valuation Technique; 3. Principal Approaches of Valuation Techniques; 4. Using Multiple Valuation Techniques; 5. Calibration of Valuation Techniques; 6. Changing the Valuation Techniques; 7. Adjusting Inputs Used in the Valuation or Adjusting the Valuation Techniques Themselves; 8. Selecting the Inputs Used in the Valuation Technique and the Fair Value Hierarchy; Chapter 13: Disclosure Provisions; 1. Overview; 2. The Scope of the Disclosure Requirements; 3. The Objective of the Disclosure; 4. Recurring and Nonrecurring Fair Value Measurements; 5. Determining Appropriate Classes of Assets and Liabilities; 6. Summary of Disclosure Requirements; 7. Disclosure Requirements for Assets and Liabilities Measured at Fair Value; 8. The Meaning of the Term “End of the Reporting Period”; 9. Policy Regarding Transfers between Levels within the Fair Value Hierarchy; 10. Disclosure Provisions That Apply to Fair Value Used Only for the Notes to the Financial Statements; 11. Other Required Disclosures; 12. Disclosure Examples; 13. Disclosures for Investments Subject to the NAV Practical Expedient (US GAAP Only)